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Market LIVE: Sensex, Nifty trade marginally higher, HDFC Bank shares up 2%

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Bottom of Pyramid Microinsurance: Hungry for Innovation

Bottom of Pyramid Microinsurance: Hungry for Innovation

A large majority of poor in developing nations work in informal sectors, with no access to insurance. They cannot afford to buy insurance nor can they access social protection (in health, disability or unemployment cover) provided by employers or co-financed by governments. Across socioeconomic clusters, this group is most vulnerable to financial shocks, and unsurprisingly least protected.
Microinsurance offers solutions to fill these gaps and deliver insurance that is affordable to match the needs of the poor. It protects them against specific risks in exchange for regular premium payments as per insurance principles. The risks commonly encompass illness, accidental injury, death and property or crop loss. Started off as community based and mutual insurance schemes, these are now increasingly offered by traditional insurance.
A number of players form part of the microinsurance supply chain. Ranging from insurance regulators to carriers, administrators, it comprises delivery channels, technology platform and service providers (such as health facilities or funeral organizations).
The opportunity for micro-insurance varies from region to region. The potential market has been estimated to be 3-4 billion policies generating $30 - $50 billion in annual revenue.
The popularity of products is also region dependent, basis the risks which affect the region the most - such as earthquakes in Chile or drought in Kenya. Microinsurers have been most successful in APAC, where two-thirds of the poor are to be found. India and Bangladesh are fastest growing, followed by China and Philippines. The countries in the right side of the below chart have favorable regulatory and business environment, both being vital enabling factors.
Microinsurance does not have any single definition as such. In South Africa, for instance, it is considered as a max benefit of R50k per insured life, while in Philippines, its the amount of premium that's less than10 percent of current daily minimum wage rate for non-agri workers.
Differences from traditional insurance are:
  • Presumes low awareness of insurance as a concept.
  • Assumes poorly educated customers, so communication must be straightforward.
  • Executed as conveniently and simply as possible, including eligiblity requirements, exclusions, payments anc and claims.
  • Relies on group pricing, due to lack of personal data
  • Links premiums to other payments, such as loan repayments.
History of Microinsurance
Microinsurance is likened to be an outgrowth of microfinancing projects developed by Bangladeshi Nobel Prize-winning economist Muhammad Yunus, that helped millions of low-income individuals set up businesses, buy houses.
American International Group Inc. (AIG) was one of the first carriers to offer microinsurance and sell policies in Uganda in 1997. It was soon joined by other large insurers including Swiss Re, Munich Re, Allianz and Zurich Financial Services. Today many innovative microinsurance products have been developed to protect the working poor against the financial impact of losses.
The growth of microinsurance
Despite almost 2 decades of focus on the under and uninsured, microinsurance is estimated to reach just under 300 million people across the developing world, ~10% of the potential market.
Partnership is one of the pillars of an effective microinsurance business model, but it is not an easy endeavour. Partners rarely have identical priorities and work with competing constraints which need to be overcome for a successul model.
Four business models prevalent as distribution channels are a)partner agent model provider driven model c)charitable insurance model d)mutual/cooperative insurance model
The partner-agent is the most common and includes MFIs, NGOs, cooperatives and retailers. It piggybacks on the partners infrastructure and trust, thus helping reduce costs and speeden time to market, facilitating scale. For this model to succeed, partner's staff need to be educated in insurance. Since the partner owns the client interface, the partnership requires intensive management. A good example is Hollard in South Africa that sells inexpensive funeral insurance through budget clothing retail chain Pep Stores.
The below chart of distribution mix in four growing microinsurance markets shows finance institutions are among most favorable distribution partners, particularly for MFI partners in India, Indonesia and Philippines. Agents and brokers are also a popular distribution network for microinsurance, followed by retail and commercial networks.
A key challenge facing microinsurers are availability of products designed to meet customer needs while meeting the carrier's operational and cost requirements. While simpler products are easier to market and administer, they also provide limited benefits. Trade-offs are inevitable and innovation is invaluable.
The below figure highlights the prevalence of credit life and life products, understandable as partnership with microfinance institutions is commonly a distribution medium. The high proportion of life insurance signifies the relative simplicity to develop this product. For the market to evolve, however, there is a need to move towards more complex products such as health and agricultural insurance.
Challenges And Need For Innovation
When it comes to microinsurance, innovation is more than a response to customer demand for more convenient service - it is usually an operational imperative. Insurers leverage technology with the aim of offering simple, affordable products to mostly illiterate customers in locations difficult to reach.
We look below at few examples of carriers and their innovations that helped them overcome challenges.
Easy availability of mobile technology has been a major enabling factor in most markets. UAP Insurance in Kenya enables farmers to buy crop insurance by using their mobile phone to send in a photograph of the barcode on a bag of fertilizer or seed, and to pay premiums using M-Pesa mobile banking system.
Similarly, real-time connectivity with the carriers' system is an important factor to enable bulk processing and servicing of low-premium policies with minimal user invovlement and at lowest cost. An exmple is IFMR Trust Holdings that works with HDFC Ergo GIC in India to use radio-frequency identification tags on insured cattle to minimize claims fraud.
Pay-as-you-go insurance platforms that use cloud technology are a necessary means to achieve an adaptable and extendable microinsurance operating model. Max New York Life in India has extended their virtual network by distributing scratch cards through small retailers. Customers pay premiums by buying a card and texting the concealed code to the insurer.
Despite the strides being made by carriers, the operational challenges that continue to derail the best of efforts include:
  • Lack of information on consumers
  • Consumers beyond current reach
  • Different and new consumer needs
  • Consumers inexperienced with formal financial services
  • Constrained business models
Adoption of sophisticated technology can have a powerful impact, but managing the significant inhibitors effectively is undoubtedly imperative to succeed in this market.
Among common innovative solutions driven by insurers are index-based insurance, grants from governments and/or donors to develop infrastructure, partnering with weather stations to collect meteorological data, risk-spreading to multinational insurers and reinsurers, and technology to manage fraud.
Additionally, new technology enabled partnerships increase the distribution reach of insurance. Peer to peer insurance enables new operational models and product categories. Demand based insurance charges premium per use. Alternative and digital data allow for improved customer knowledge. For example, online consumer retail purchase history can better inform about a potential consumer's risk profile and premium pricing.
Leveraging digital infrastructure reduces marginal cost of insurance delivery. e.g. Saldo in Mexico uses blockchain to verify transactions to reduce fraud. Afrisure in Zimbabwe uses satellite data to enable provision of agricultural insurance at scale.
Sustainable Profitability
Profitability has not been easy to achieve in microinsurance, being a sophisticated offering to most consumers, who mistrust it and cannot easily understand. It is also an emerging area for insurers, who have limited knowledge to underwrite accurately. Over time, these are expected to smoothen out, insurers will learn from early mistakes and build more efficient distribution channels.
The key to profitability might just lie in the business model. In order to be profitable, a low margin/high volume philosophy will be the preferred path. Microinsurers will have a compelling need to price products accurately with low margins, and then sell large volumes. The challenges will manifest in that voluntary insurance products sold on an individual basis will be more expensive to distribute and service than mandatory group polices linked to loans. Nevertheless, as carriers manage to maintain growth in revenue greater than growth in incremental costs, they will derive profitability through scale.
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Nifty gives up gains after hitting 12,400

Nifty gives up gains after hitting 12,400
Oil prices rose to their highest in more than week.
HDFC Bank, TCS and Kotak Mahindra Bank were among the top losers.
Indian markets gave up most of their early gains after setting new highs in early trade. The Nifty hit 12,400 level for the first time when it rose 78 points to 12,430 at day’s high. The Sensex rose over 300 points when touched 42,273 in early trade. However, Sensex and Nifty later pared most of their early gains to turn flat as a surge in oil prices hurt the sentiment.
HDFC Bank, TCS and Kotak Mahindra Bank were among the top losers, down between 0.5% and 1%.
Crude has again raised its ugly head today with fresh issues cropping up in Iraq and Libya. The Nifty is discounting the solid results of RIL and other Nifty constituents, HDFC Securities said in a note.
Reliance Industries reported a 13.5% rise in quarterly net profit, led by strong performance of its consumer-facing businesses and robust refining margin. HDFC Bank reported a 32.8% growth in net profit year-on-year to Rs. 7,416.5 crore for the third quarter ended December 31 driven by interest and non-interest income.
Oil prices rose more than 1% today on supply concerns after exports from Libya, which has been riven by fighting between rival factions since a 2011 NATO-backed uprising, were blocked after a pipeline was shut down by armed forces.
And in Iraq, which is OPEC’s second biggest producer, a strike at a key oil field hit output.
Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services, says Nifty has major support at 12150 levels. On the flipside, resistance is placed in the zone of 12,450-12,500, he added.
Asian markets were mostly higher today as the mood remained optimistic after the last week’s signing of China-US trade pact. China’s GDP data, which was released on Friday, also provided some reassurance to traders, indicating a growth slowdown in the world’s number two economy may have bottomed out.
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Sensex rallies over 100 points led by gains in auto, banking stocks

Sensex rallies over 100 points led by gains in auto, banking stocks
Bharti Airtel gained 1% after the company’s losses narrowed on quarter.
Investors await the next bi-monthly policy statement, due on 6 February.
Indian equity markets on Wednesday had opened little changed but soon rose nearly 0.4% led by gains in auto and banking stocks.
At 9.40am, the benchmark Sensex was up 0.4% or 174.50 points to 40963.88, while Nifty gained 0.41% or 49.5 points to 12029.10.
Most auto stocks gained at open, buoyed by the monthly sales data, which was in line with expectations. Tata Motors, Ashok Leyland, M&M, Apollo Tyres, Bajaj Auto gained 1-4%. TVS Motors gained 5%.
Among banking stocks, Axis Bank, Federal Bank, RBL Bank, Indusind Bank, SBI, HDFC Bank, Kotak rose 0.4-1.22%.
Index heavyweight Bharti Airtel gained 1% after the company reported narrowing of its losses quarter-on-quarter. For October-December, the telecom major reported a loss of ₹1,035 crore, less than the ₹23,145.60 crore loss posted in the September quarter.
Investors now await the next bi-monthly policy statement, due on 6 February, with the market keenly eyeing commentary on inflation and growth forecast. The RBI is widely expected to stand pat on rates, with the repo rate unchanged at 5.15% due to inflation trending higher, a Mint survey has found.
On Tuesday, the market had surged nearly 900 points largely because of fall in crude oil prices and improvement in manufacturing PMI data.
“We believe the budget has been a non-event and belied the lofty expectations. The government, however, has tried to balance growth concerns and fiscal prudence while providing relief to several segments e.g. tax relief for the middle-class and abolition of DDT. We believe the market’s focus should now revert to fundamentals, viz. corporate earnings growth and global cues around the spread of Coronavirus”, said Motilal Oswal Research in a report to its investors.
The Indian rupee had opened marginally higher at 71.21 against the US dollar, up from its previous close of 71.27. The 10-year bond yield was marginally up at 6.516% compared with its previous close of 6.505%.
Asian stocks were steady with positive bias, while overnight, the Nasdaq hit a record high and the S&P 500 had its best day in six months as fears of a significant economic impact from the coronavirus epidemic tapered off after China’s central bank intervened for the second straight day.
China injected 1.7 trillion yuan ($242.74 billion) via reverse repo on Monday and Tuesday, helping Chinese stocks recover some losses and lifting the world equity index .
The stimulus boosted investor sentiment even as several economists cut forecasts for 2020 global growth as the fast-spreading virus hampers business operations in the world’s second-largest economy.
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Stocks to Watch: RIL, TCS, HDFC Bank, Kotak Mahindra Bank, Lupin

Stocks to Watch: RIL, TCS, HDFC Bank, Kotak Mahindra Bank, Lupin
RIL: The index heavyweight, after market hours on Friday, announced its earnings for the December quarter. The Mukesh Ambani-led company reported the highest-ever quarterly consolidated net profit of ₹11,640 crore for the third quarter, an increase of 13.5% year-on-year (YoY), against ₹10,251 crore reported in the same quarter of the previous financial year.
TCS: The IT major, after market hours on Friday, announced its December quarter results. The company reported tepid growth numbers, with net profit rising just 0.2% on year to ₹8,118 crore. This was marginally higher than ₹8,105 crore reported in the corresponding year last fiscal. The company saw a 6.7% increase in revenue to ₹39,854 crore for the reporting quarter.
HDFC Bank: Thr private lender, which reported its third quarter numbers on Saturday, saw a 33% growth in net profit. However, the bank’s asset quality weakened and provisions for bad loans rose. The bank, which is also an index heavyweight, posted a net profit of ₹7,416.5 crore, compared with ₹5,585.9 crore in the same period last fiscal. Its net interest income increased by 12.7% on year to ₹14,173.9 crore.
Kotak Mahindra Bank: Investors may watch this space as the private bank will announce its earnings for the December quarter today. Separately, another private lender Federal Bank will also report its numbers for the third quarter.
HCL Technologies: The IT company announced its earnings for the third quarter post Friday’s market hours. The company’s net profit and revenue growth touched an all-time high. While profit rose 16.3% on year to ₹3,037 crore during the said quarter, revenue was up 15.5% at ₹18,135 crore.
Lupin: The pharmaceutical company on Saturday said it received five observations from the US Food and Drug Administration for its Vizag facility in Andhra Pradesh. The inspection of the company’s Vizag API manufacturing unit by the US regulator was completed. The observations were not listed in the press statement released by the firm.
GMR Infrastructure: The company on Saturday said it won a contract to develop, operate and manage duty-free shops at Kannur International Airport in Kerala. Separately, the Supreme Court, after a year, allowed resuming the construction of a greenfield airport at Mopa in Goa. The construction of the Mopa airport has been taken up by GMR Airports Ltd, a subsidiary of GMR Infrastructure Ltd, that manages Delhi and Hyderabad international airports.
L&T Finance Holdings: The company, after market hours on Friday, reported a marginal 1.8% YoY rise in its consolidated net profit to ₹591.5 crore during the December quarter. The company had posted net profit of ₹580.9 crore in the same period last year.
Cyient: The company’s third-quarter profit grew by 10.4% sequentially to ₹107.6 crore on revenue of ₹1,105.9 crore. Rupee revenue fell 4.6% from ₹1,158.9 crore in the September quarter, while dollar revenue declined 5.5% quarter-on-quarter to $155.2 million in the quarter ended December.
DLF: The National Company Law Appellate Tribunal (NCLAT) directed the real estate firm to register transfer of its 60,000 shares to the legal heirs of one of its deceased shareholders and imposed penalty of ₹5 lakh for harassing the investor. A three-member bench observed that DLF Ltd repeatedly insisted for affidavit and indemnity bond despite having a Letter of Administration for succession.
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Stocks to Watch: NTPC, Infosys, Adani Ports, Mahindra & Mahindra, Gujarat Gas

Stocks to Watch: NTPC, Infosys, Adani Ports, Mahindra & Mahindra, Gujarat Gas
NTPC : The state-owned company sought two-to-three-year extension of deadline to install emission-cutting equipment at some plants, according to a Reuters report. The request means that one of India’s biggest power producer is pressuring the Centre to delay emissions targets for a second time, citing costs and technical difficulties.
Infosys : Asia’s second largest IT services company will announce its earnings for the third quarter ending December on Friday. Shares of the company were under pressure on Tuesday ahead of its earnings. The stock ended down nearly 1.5% at ₹727.75 on the BSE on Tuesday. Investors may continue to watch this space in today’s trade.
Gujarat Gas : Credit rating agency Crisil reaffirmed long-term rating for the company’s bank loan facilities worth ₹2,350 crore at AA+ with a stable outlook. Crisil’s rating for term loan from HDFC Bank Ltd and State Bank of India was at AA+ with a stable outlook for the gas company.
Adani Ports : Acquisition of Krishnapatnam Port Company Ltd (KPCL) by Adani Ports and Special Economic Zone Ltd (APSEZ) will increase the latter’s market share and diversity, Moody’s Investors Service said on Tuesday. APSEZ will acquire 75% stake in debt-laden KPCL located in Andhra Pradesh for ₹5,625 crore in an all-cash deal.
NBCC : The state-owned building construction company, after market hours on Tuesday, said it secured business worth of ₹1,090.53 crore during December 2019.
Realty Firms : Home sales improved marginally in 2019, while office leasing hit a record high during the year despite the overall slowdown in the economy and weak consumer sentiment, according to a report by property consultancy firm Knight Frank India. The residential segment saw a growth of 1% to 245,861 units in 2019.
Mahindra & Mahindra : The auto company, after market hours on Wednesday, said credit rating agency CARE reaffirmed long-term rating on bank loan facilities at AAA with a stable outlook. The short-term rating was reaffirmed at A1+ by the agency.
RBL Bank : Six employee unions will go on a nationwide bank strike today due to various demands and issues. In a regulatory filing after market hours on Tuesday, the private lender said the strike, that will take place at an industry level due to the demands made, may affect the operations of some branches of the bank. Separately, state-owned Corporation Bank also said its operations may get affected due to the strike.
Thomas Cook India : The travel and leisure company said it has entered into a long-term agreement with Experience Hub, the trade and promotion arm of Yas Island Abu Dhabi. The pact will boost tourism at the destination and will further engage the India market for the destination in 2020.
Muthoot Finance : The company, in a regulatory filing on Tuesday, said Managing Director George Alexander Muthoot was mercilessly attacked by criminals at the instance of Centre of Trade Unions (CITU), while he was on his way to the headquarters of the company in Kochi on Tuesday.
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TCS likely to open higher today, Infy may correct on Q4 numbers

MUMBAI: Tata Consultancy Services (TCSNSE 1.90 %) shares are expected to open strong on Monday on betterthan-expected fourth quarter earnings. Rival InfosysNSE -2.77 %, which guided for lower profits in FY20, could drop, mirroring the 4 per cent fall in its American Depository Receipts (ADRs) on Friday.

Both companies announced their results after trading hours on Friday. Most brokerages cut their target prices on Infosys by as much as 17 per cent, while some downgraded it. Analysts mos ..

“Infosys will correct at opening and TCS may open positive,” said Sanjiv Bhasin, executive VP-markets and corporate affairs at IIFL. “But the gains (for TCS) are likely to get sold into. Both the stocks are fully priced in at the current levels. The rupee is now a headwind and Europe business is looking weak,” he said.

Infosys forecast lower-than-expected growth at 7.5-9.5 per cent for FY20 and slashed margin expectations to 21-23 per cent. Its fourth-quarter profits increased 10.4 per cent to Rs 4,074 crore and revenue by 19.1 per cent to Rs 21,539 crore.

“There may be a mild disappointment in case of Infosys results because of the guidance cut,” said Deepak Jasani, head of research at HDFC Securities. “TCS has beaten expectations, but even here we may witness a sell on news scenario as well," said J ..

Centrum has downgraded the stock to ‘add’ from ‘buy’ and cut target price by 3.8 per cent to Rs 775. Dolat Capital cut rating to ‘sell’ from ‘buy’ and reduced target price by 16.7 per cent to Rs 700. HDFC Securities downgraded the stock to ‘neutral’ from a ‘buy’ and lowered target price by 6 per cent to Rs 755.

“Results disappointed on margins and the outlook guidance was weaker on both growth/margins. We expect the stock to react negatively to ..
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Sensex, Nifty scale fresh record highs; bank, auto stocks lead

NEW DELHI: The season of record highs is back on D-Street.

Benchmark indices Sensex and Nifty hit fresh record highs on Wednesday within half hour of opening trade led by gains in banking and auto stocks. Hopes of a possible rate cut by the RBI along with firm cues from the global markets kept market buoyant today.

The mood was further bolstered by strengthening rupee which was trading 13 paise higher in the following sustained inflows by foreign institutional investors.

At around 9:30 am, the BSE sensex was up 168.80 points, or 0.43 per cent at 39,225.45. While NSE Nifty rallied 43.65 points, or 0.37 per cent at 11,756.85.

Among Nifty stocks, 32 stocks advanced while 18 declined.

In the Sensex pack, 23 stocks traded in the green while seven in the red. Tata Steel topped the leaderboard surging, 1.61 per cent, as S&P Global Ratings revised Tata Steel’s outlook to positive on expectations of stable steel prices, reduced chances of acquiring bankrupt Bhushan Power & Steel and the divestment of its low margin European business.

The index made merry led by strong contribution from banking stocks such as HDFC BankNSE 0.17 %, Kotak Bank, IndusInd BankNSE 2.30 % ..
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Nifty likely to trade in 11,600-11,900 till Budget

NEW DELHI: There could be some consolidation going ahead, but the trend is likely to remain strong till the time 11,600 is not breached by the Nifty, according to technical analysts. Stocks like Tata MotorsNSE 1.14 %, MajescoNSE 1.12 %, Canara BankNSE -0.23 %, HDFC LifeNSE 1.83 %, SBI, Bajaj FinservNSE 0.46 % and Info Edge are likely to move up as per the charts.

Where are We? The expiry week remained marginally in favour of bulls since the benchmark indices ended the ..

What is in Store? At this juncture, the Nifty has formed an intermediate swing high of 11,911. Also, the daily chart of Bank Nifty depicts a ‘Shooting Star’ candlestick pattern which is a reversal one and that too exactly at 78.6 per cent Fibonacci retracement level of the previous move. Thus, there could be some consolidation or profit booking going ahead. But the trend is likely to remain strong till the time 11,600 is not breached by the Nifty. On the downside, the index has ..

Nifty likely to trade in 11,600-11,900 till Budget
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Indin Financial Sector

The government has written to banks highlighting their dismal performance in deploying point of sales (PoS) terminals to promote cashless transactions, having achieved only 44% of last year’s target by the end of January. While 41% of the target was attained in the northeast, in the rural areas it was worse at 16%, a key official in the Ministry of Electronics and Information Technology (MeitY) said in a letter addressed to top executives of banks. -Economic Times
The RBI annual inspection found the Union Bank of India had under-provided, also known as ‘divergence’ in banking parlance, in 2017-18. The divergence is also because of its exposure to troubled infrastructure conglomerate — Infrastructure Leasing and Financial Services — which turned bad. -Economic Times
The RBI has appointed its former Deputy Governor, R Gandhi, on the board of private sector lender YES Bank as an additional director. -Business Line
Karur Vysya Bank today reported a rise of 18.7% in March quarter net profit at Rs 60.02 due to healthy income from retail banking even as bad loans spiked. The bank clocked a profit of Rs 50.56 Crore during the corresponding Jan-March period of 2017-18, as per a regulatory filing.
Canara HSBC OBC Life Insurance has wiped off its accumulated losses of Rs 160 crore, posting a net profit of Rs 165 crore in FY19. The Co's focus on traditional products (especially protection plans) helped in profitability, Anuj Mathur, CEO, Canara HSBC OBC Life Insurance told. The Co's gross written premium increased by 26% to Rs 3,491 crore in FY19 from Rs 2,781 crore in FY18. The insurer declared an embedded value of 2,575 crore as on March 31, 2019. -Economic Times
IIFL Holdings posted a rise of 30% in net profit at Rs 373 Cr for March quarter 2018-19. The Co’s net profit in the year-ago period stood at Rs 286.1 crore. -Business Line
Housing finance major HDFC Limited has partnered with India Mortgage Guarantee Corporation (IMGC) to offer a mortgage-guaranteed home loan product. -Business Line
Former ICICI Bank CEO & MD Chanda Kochhar and her husband Deepak Kochhar today deposed before the Enforcement Directorate for the third consecutive day for questioning in connection with the Rs 1,875-Cr Videocon loan case. -Business Line
India’s exports rose marginally by 0.64% in April to $26 billion while imports increased by 4.5% to $41.4 billion compared to the corresponding month last year, according to official data released today. Trade deficit, the difference between exports and imports, widened to $15.33 billion in April 2019 from $13.72 billion in April 2018. -Business Line
Home buyers will have to pay 12% GST on balance amount due to the builder if the housing project has been granted completion certificate by March 3%1, 2019, the CBIC has said. Builders who have received completion certificate for an ongoing project before April 1, 2019, will have to charge 12% GST from buyers on the balance amount due towards purchase of the flat. -Business Line
The IT Department, investigating cases of tax evasion during demonetisation, is stepping up probe into gains made in agriculture income by farmers and other assessees. Under the IT Act of 1961, agriculture income is exempt from taxes. But during the demonetisation period, IT Department officers suspect that excess non-agriculture income or black money was declared as agriculture income. -Business Line
USD/INR 70.33 SENSEX 37114.88(-203.65) NIFTY50 11157.00(-65.05)
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Automotive Financing Market Demand, Overview, Price and Forecasts To 2024

Automotive Financing Market Demand, Overview, Price and Forecasts To 2024
Global Automotive Financing Market 2018 research report provide the details about industry overview and analysis about size, share, growth, trend, demand, outlook, classification revenue details, competitive scenario, industry analysis, markets forecast, manufacturers with development trends and forecasts 2025.
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Automotive FinancingIndustry Report is designed to provide Industry Experts and Investors with detail overview of Automotive Financing Market report, which will help them to take decisions with respect to Key Players, Regions, Manufacturers, Types and Trend etc. This report gives a detail insight for a period of 2018-2025 Research Report.
Global Automotive Financing Industry report provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Automotive Financing industry analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status.
Complete report Global Automotive FinancingMarket spreads across 111 pages profiling 22 companies and supported with tables and figures , Inquire more about this report @
Top Key Companies Analyzed in Global Automotive FinancingMarket are - Bank of America, Ally Financial, Hitachi Capital Asia-Pacific, HDFC Bank, HSBC, Industrial and Commercial Bank of India, Bank of China, Capital One, Wells Fargo, Toyota Financial Services, BNP Paribas, Volkswagen Finance, Mercedes-Benz Financial Services, Standard Bank, Banco Bradesco Financiamentos
Firstly, this report focuses on price, sales, revenue and growth rate of each type, as well as the types and each type price of key manufacturers, through interviewing key manufacturers. Second on basis of segments by manufacturers, this report focuses on the sales, price of each type, average price of Automotive Financing, revenue and market share, for key manufacturers.
Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins.
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By Type: OEMS, Banks, Financial Institutions, Others
By Application: Loan, Lease, Others
The Main Contents of The Report Includes:
Section 1: Product definition, type and application, Global market overview.
Section 2: Global Market competition by company.
Section 3: Global sales revenue, volume and price by type.
Section 4: Global sales revenue, volume and price by application.
Section 5: United States export and import.
Section 6: Company information, business overview, sales data and product specifications.
Section 7: Industry chain and raw materials.
Section 8: SWOT and Porter's Five Forces.
Section 9: Conclusion.
Major Points from Table of Contents –
1 Market Overview
2 Global and Regional Market by Company
3 Global and Regional Market by Type
4 Global and Regional Market by Application
5 Regional Trade
6 Key Manufacturers
7 Industry Upstream
8 Market Environment
9 Conclusion
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Which Demat/Broker account

Just starting with investments in the stock market. Will not trade/do not need margin etc. Looking to invest a maximum of Rs 10000 every month. Will login and buy shares on ONE fixed day every month. There are numerous stock brokers with various offerings. How to categorize/differentiate the offerings and what to ask. Colleagues have accounts in IIFL and HDFC and each say theirs is best. The one who has an account with IIFL vouches for its mobile trading app. I will make investments on 1 fixed date every month. So mobile app etc is not a criteria for me. Please suggest
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Last Week In Indian Economy - For the Week Ending 1st May, 2016

Last Week in Indian Economy

“Ab tak Colgate ka to gate khul gaya, Nestle ka to panchhi urne wala hai, Pantene ka to pant gila hone wala hai, aur do saal me Unilever ka lever kharab ho jayega." - Baba throwing shade at four of Patanjali’s biggest competitors.

Headline Stories

Earnings-Palooza Continues
The festivities for the quarter ending March continued with Airtel reporting a 3% increase in net profits and a subscriber total of 35 million Indians. Airtel’s gain turned out to be Idea’s pain. Shares of Idea traded down after the company reported almost 40% decrease in profits. That had to have hurt. The main event of the week were the banks that were reporting earnings. Profits at Axis Bank fell almost 2% as bad loans went up - it’s the bank’s first decline in quarterly profits in over a decade. ICICI Bank, the country’s largest private sector bank, reported a 76% decline in profits, the sharpest decline of quarterly profits ever in its entire history. Records like that are probably best left unbroken. Just as you breath a sign that after results like those, the worst is probably over - you realize it really isn’t. Both banks said that they expected the amount of bad loans to increase for a few quarters. Shareholders of bank stocks better get used to the pain of being burned by bad loans. Masochist shareholders of bank stocks can relax.
Maruti Suzuki: :’(
Delhi’s odd-even rule has drawn a lot of flak from residents who are being forced to take the bus every other day and smell the smells of the people on the bus. Among those unhappy has to be Maruti Suzuki, India’s biggest car maker. Maruti’s results for the first quarter of 2016 reported a 12% decline in profits. Interestingly, the company cites the Jat reservation agitation as one of the reasons for a fall in profits. But there are also people who are happy with the odd-even rule. Like a 13-year old boy who registered the domain and sold it to carpooling app, Orahi and now attends advisory board meetings at Orahi as a technical expert, presumably right after watching Chota Bheem. Sticking to the theme, chalk this one up as win for the militant environmentalists - Mahindra is planning to build India’s first automobile shredding plant that will focus on destroying 100,000 units of old cars, ships and machines per year. They should upload videos of machines crushing cars to YouTube.
Let’s Pretend Like This Is A Creative Title
Every time there’s technological progress, people piss themselves silly telling everyone that machines will take all our jobs now. That has been happening since the past decade or so and likely started when they invented swords to replace the jobs of all the people who made pointy sticks. But today, there is a special kind of irony when the engineers who make machines and software that replace other people’s jobs start getting replaced by software and machines themselves. One of Infosys’ co-founders says growth in hiring has decreased by 40% over the past 10 years and will likely fall further. And it’s all happening because of automation in the IT industry. There’s only one job available for every five engineers graduating every year. Psh, and they said arts students don’t get jobs. Due to this increased supply and reduced demand, salaries for new hires stayed pretty much the same despite a booming IT industry. Indians who opted for the road less traveled despite family pressure to pursue engineering cannot stop smiling right now.
Last Week In Vijay Mallya’s Life
Not to jump on the bandwagon of hating him because it’s cool now, but that Mallya fellow just can’t stay out of the news media, try as he might. Either that or the news media just can’t stay out of Mallya’s life, and they don’t even try. Brands confiscated by the banks a few weeks ago like ‘Fly the Good Times’ and ‘Fly Kingfisher’ were put on auction for the second time. And for the second time, nobody was stupid enough to make a bid. The minimum price was set at ₹367 crore. It’s safe to say - those brands are poisonous by now. The Supreme Court directed Mallya to declare all his foreign and domestic assets to the banks so they can be better prepared at the negotiations table. Mallya isn’t back in the news. He just never left the news. They also just revoked his passport - and being an MP, he’s even got one of those shiny red diplomatic passports, which is now useless. That last sentence was written before news broke that Mallya had resigned from the Rajya Sabha - so now that shiny red diplomatic passport is really useless.
Bros Again: Reliance and Iran
The Iranian Revolution of 1979 overthrew the ruling dynasty in Iran which was supported by the US. Since this was a matter of internal politics in a sovereign country outside the US territory, the US had to respond, as is tradition - and it promptly imposed economic sanctions, which were recently lifted. Reliance, which has substantial investments in the US, had suspended trade with Iran for fears of being dragged through the mud in the US. But last week, Reliance resumed buying oil from Iran after almost 6 years. Talking about oil - oil prices have crashed the floor and everyone’s predicting the end of Saudi Arabia as we know it. There was even talk about an IPO for Saudi Aramco, the Saudi national oil company, to raise cash and douse the fire lit by falling oil prices. If there is a fire, the kingdom is trying to hide the smoke. Saudi Aramco is now actually looking to expand and buy stakes in Indian petrochemical projects, possibly in a planned oil refinery on the west coast.

Sidebar Stories

  • The presidential elections in the United States are proving to be the best drama series since Breaking Bad. And presidential candidates are all about that minimum wage. Even though the same conversation about minimum wage in India is painted less so with a political brush, last week we managed to increase the minimum wage for workers hired by contractors to ₹10,000 per month.
  • Disclosing your salary to your coworkers can certainly make for some awkward water cooler conversation. But what if you are mandated by law to disclose your salary, not just to your coworkers but to the entire country? An RTI disclosure recently revealed that RBI Governor Raghuram Rajan, the guy that basically runs the Indian economy, is paid a gross salary of ₹1.98 lakh per month. Here’s the shocker - he’s not even the highest paid employee at RBI.
  • Warren Buffett, everyone’s favourite billionaire (sorry Bill) recently livestreamed his company’s annual shareholder meeting on Yahoo. During the meeting, he showered praises upon praises on Amazon founder and fellow billionaire, Jeff Bezos. And Jeff deserves that pat on the back - As Amazon reported profits and revenues that crushed expectations back home in the United States, Amazon India surpassed Snapdeal to become the 2nd largest online marketplace in India after Flipkart.
  • Two weeks ago, it was about Japan building India’s first bullet train. But then there’s China who wants to build a second bullet train route in India, possibly a Delhi-Chennai connection. China does have the world’s largest bullet train network that it claims is profitable, but it also has 63% market share in the global fake goods trade (India has 2%). Considering the state of Indian Railways, fake Chinese bullet trains will probably still be an upgrade.

Market Movements

Let’s do the numbers. Since last week:
  • BSE Sensex: ↓ 1.80%
    Week Open: 25,891.03
    Week End: 25,424.03
  • Nifty: ↓ 0.57%
    Week Open: 7,894.80
    Week End: 7,849.80
  • Gold prices: ↑ 4.29%
    Week Open: 29,021
    Week End: 30,266
  • USD / INR: ↓ 0.39%
    Week Open: 66.685
    Week End: 66.425
Stocks that moved heaven and earth:
  • HCL Technologies Ltd. (HCLTECH): ↓ 10.82%
  • State Bank of India Ltd. (SBIN): ↓ 7.46%
  • ICICI Bank Ltd. (ICICIBANK): ↓ 6.12%
The yield on 10-year government bonds fell from 7.470 to 7.437.

Up Next

Important Numbers being released this week:
May 2nd: India Nikkei Manufacturing Index (Apr), Quarterly Results for - HDFC
May 3rd: Quarterly Results for - Adani Ports & SEZ
May 4th: India Nikkei Services Index (Apr)
May 7th: Quarterly Results for - Grasim Industries

Footnote Stories

Amazon is doing great. But Apple has seen better days. It reported a 22% fall in profits for the previous quarter. Its stock is down 15% for the month. It’s so bad that Apple CEO Tim Cook had to go on American TV to remind everyone that it’s still the most profitable company in the world. In India, things are equally grim. Market share of iPhones dropped from 55% a year ago to just 37% today. And Samsung emerged as the leader with a 62% market share. Where are all the apple fanboys now, huh?
In a lot of the developed world, people always call out the top 1%, the richest individuals, to stop evading taxes and pay their fair share. But in India, if you do pay taxes, you are actually the 1%. Government data shows only 1.25 crore Indians paid taxes in 2012-13 which is about 1% of the population.
For the Week Ending 24th April, 2016 Accidentally deleted last week's post. Fat fingers. Ugh.
A similar series titled 'Last Week In Indian Parliament' that aims to summarize the proceedings of the parliament every week was just started by kumbhakaran. Check it out here.
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Nifty over 9,000 at open as BJP gets clear mandate in UP; rupee at highest level since April 2016

A shorter version (reduced by 80.0%) can be found on IndiaSpeaks.
This is an extended summary, original article can be found here

Extended Summary:

Nifty over 9,000 at open as BJP gets clear mandate in UP; rupee at highest level since April 2016.
Benchmark indices surged at opening as investors cheered BJPs stunning victory in Uttar Pradesh assembly elections, which gives it room for adding more representatives in the Rajya Sabha.
The broader market was trading flat with BSE and BSE Smallcap gained 1.
In UP, the party won its biggest margin in 37 years with a three-fourth majority.
61 on Friday and opened today at highest level since April 2016.
91 crore, provisional data available with BSE showed.
All stocks on the indices were trading in green - ICICI Bank, M&M, HDFC and ITC were the top gainers on BSEThe MSCI's broadest index of Asia-Pacific shares outside Japan was 0.
South Korea's Kospi was with modest gains.
Chinese shares saw early gains rolled back after combined retail sales for January and February rose only 9.
Fixed-asset investment expanded 8.
The CSI 300 index opened the day lower, then rose but gave back that gain after the data release.

Stats For Nerds:

Original Length 2672
Summary Length 1041
Summary Ratio: 61.04
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Tana Goldfields Mining Fraud Investment - Tips to remember while investing in gold

Tips to remember while investing in gold
Lovaii Navlakhi of International Money Matters recommends that upto 5-7 percent of the portfolio should be invested in gold and the best way to do this is through the ETF route.
In an interview to CNBC-TV18, Lovaii Navlakhi, International Money Matters shared his views on what should retail investors do with gold now after government hiked import duty on gold to 10 percent to arrest the declining value of rupee and contain the fiscal deficit to 3.7 percent of the GDP. Below is the verbatim transcript of his interview on CNBC-TV18
Q: The government is coming down heavily on curbing the appetite for gold, what does this mean for the retail investor, what should he do with his investments? Should he branch out to gold, should he branch out of gold?
A: Gold needs to be a part of every investor’s portfolio. We normally recommend that up to 5-7 percent of the portfolio should be invested in gold. During uncertain times you can enhance that allocation to 10-15 percent. Therefore, the best way to invest in gold is going through an exchange traded fund (ETF) route.
You need a Demat account, you can buy the units of gold based on number of grams and their rate. But the real issue is when people look at the past performance of any investment, any asset class and decide to put in bulk money. So anyone who has invested prior to April or early April this year will be staring at losses at this point in time.
You should look at strict asset allocation and if you have invested 5 percent in gold, the value of gold has gone up 20 percent so your allocation to gold has increased marginally. You take out the profits every three-six months and that way you will ensure that you are within the asset allocation.
For people who have put a large chunk of their money in gold, at this point in time the thought should be how do I reduce it from 20-25 percent of my portfolio to 10 percent? They should have three-six months’ time window and in a staggered manner they will gradually reduce this allocation to gold so that they are within the asset allocation norms. Very much like an SIP, how you invest gradually, divestment also could be done gradually.
Overall, gold is a hedge against inflation and if you are expecting growth to come back in markets globally then it may not be the asset class that will outperform but it still needs to be there as part of the asset allocation.
Q: My mutual funds portfolio consists of HDFC Top 20 , HDFC Equity Fund , DSP Small and Midcap and Reliance Vision Fund . Is this a profitable portfolio or should I make some changes?
A: He has invested a variety of funds, there are couple of large cap funds, a multi cap fund and a midcap fund. So he has created a decent portfolio. I am assuming they are equally allocated.
If one was to look at performance then Reliance Vision Fund has underperformed in the last five years. It has gone only by about 13-14 percent in the last five years whereas all the other three funds have gone up by about 50 percent. So, Reliance Vision Fund is something that he should consider exiting.
Among the three schemes, DSP Small & Midcap is a midcap scheme, whereas HDFC Top 200 and HDFC Equity are large cap oriented. In the last five years they have shown equal performance. But the difference is stark in the past one year as well as three years.
While large caps have done okay, they have been flat in the last three years or so, the CNX Midcap index has fallen by 7 percent per annum. So he has to keep in mind that midcaps would typically take a longer period to perform especially if you have entered there in bad times. But it doesn’t mean that he shouldn’t have an allocation to midcaps.
If I look at specific schemes in each of these three categories, there are better schemes available. So for an HDFC Top 200 may be he can replace with Birla SL Frontline Equity . With HDFC Equity he can replace ICICI Pru Dynamic Plan . He can replace DSP midcap with ICICI Discovery. It is important to look at exit loads and capital gains impact so he should keep that in mind before he does that. He should not take out and put all the money into new fund simultaneously. Best if he has a financial advisor and if he doesn’t have one he should get one.
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